ACL BEARINGS at Rocherlea will officially close its doors on June 30.
Receivers Grant Thornton Advisory Services took over the company in 2009 but failed last year to find a buyer to run the company as a going concern.
The plant's activity has progressively wound down from the start of the year and some workers in middle management and administration have been made redundant over the past few months.
Production line workers will stay with the company until the end to fulfil outstanding orders.
ACL Bearings was one of the region's biggest employers before it hit financial trouble in 2005.
Its workforce was reduced from 470 workers in 2005 to 136 last year.
The previous federal government agreed that all workers would be paid redundancy packages through its general employee entitlements and redundancy scheme.